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Tuesday, January 18, 2011

Trade review 1-18-11

I got some of these plays right...

Hits:

CHGI

Opening on a gap up, this moved slightly up for 15 minutes, then fell hard and fast, going green to red for the fade entry. It stayed negative, closing down over 1.5% today.

IBCP

After a 1 cent gap up, this roared out of the gate, busting through 4 and holding on volume, for the long. It closed off of the highs, but still green by over 9% today. It never dipped red even on pull backs.

PLUG

Opening at the lod on a gap up, this overtook the high with ease on volume, for a long entry. It spiked up out of the bell, pulled back, and advanced the rest of the way, never dipping red. Closed up 25% today.

Misses:

NANO

Opening on a gap down, it continued to fade. Closed well off of the lows, but still negative by over 3% today. I was too wrong about the direction and timing here to claim anything other than a clear missed call. The gap up was eliminated by the normal open, which probably caused most of you to avoid a play, fortunately. No dump at 18, either.

BRKS

No red to green long or 12 level profit taking. It just opened near the hod and gradually faded all day into the close, which was red by nearly 2.5% today. I only liked the long and it did not play out as I predicted.

Push:

IWDM

A split decision in real world terms, a loss on paper as it closed green by over 4.5% today. However, most shorts probably made money, as it closed lower than it opened, only shooting up in final minutes, where most probably covered, possibly contributing to the closing strength. It gapped up, then flirted with red a few times. Finally, it caved and went green to red, staying weak all day until the aforementioned close.

RTEC

Easily arguable as a win as it closed green by over 1.5% today, but probably a push due to choppiness. After a gap up, it moved up a bit, then fell red about the same amount. It bounced back positive, faded, then hugged the flat line nominally negative before advancing into the close. I got the direction right, but it's a push.